Thai businesses oppose government's Bt400 minimum wage plan

13 Sept 09:56 Key points summarised by AI

Thai business associations strongly oppose the government's plan to increase the national minimum wage to Bt400 per day, with a survey indicating 93.9% of members disagree.
They warn that the 25-30% wage hike would severely impact the country's competitiveness, especially for labor-intensive sectors like tourism, services, and over 3 million SMEs.
Businesses propose establishing an 'entry wage' instead and focusing on worker skill development, while insisting that any wage decision must be made by a tripartite committee of employees, employers, and the government.
Economists estimate the wage increase could cost companies an additional Bt20 billion monthly, potentially forcing businesses to reduce their workforce in the long run to maintain competitiveness.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.